Shares in San Miguel surged 10 percent yesterday after the conglomerate said it could raise around $1.6 billion by selling shares and would pay a special dividend. On Tuesday, San Miguel said its board had approved an offer of approximately 1 billion shares, from unissued capital stock and treasury shares, with a floor price of P75 pesos, to fund acquisitions and investments. The company also announced a dividend of P0.35 and a special dividend of P5 per share, with a record date of Aug. 10....
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